HALO Just Got Brighter - What Other Pharma Stocks Made News This Week?

(RTTNews) - Halozyme Therapeutics Inc. (HALO) touched a new 52-week high on Thursday, rising as much as 24%, following deals with Bristol-Myers Squibb Co. (BMY) and Swiss drug giant Roche AG involving its ENHANZE drug-delivery technology.

Bristol-Myers has been provided access to Halozyme's ENHANZE technology for up to 11 targets.

The ENHANZE technology allows for more rapid delivery of large volume injectable medications, such as medications that are currently delivered intravenously, through subcutaneous delivery, and Bristol-Myers hopes to improve the patient treatment experience by developing flexible and convenient treatment delivery options.

Under the terms of the agreement with Bristol-Myers, Halozyme is entitled to receive an initial $105 million, milestone payments of up to $160 million for each of the 11 nominated collaboration targets, additional milestone payments for combination products, and royalties on sales of products using the ENHANZE technology developed under the collaboration.

Halozyme has also licensed its ENHANZE drug-delivery technology to Roche for exclusive development of an undisclosed therapeutic target.

Under terms of the agreement with Roche, Halozyme will receive an initial $30 million, with the potential to earn additional payments of up to $160 million, in addition to tiered, mid-single digit royalties on sales of commercialized products.

Having signed two new licensing agreements for its ENHANZE drug-delivery technology, Halozyme now expects net revenue for 2017 to be in the range of $245 million to $260 million compared to its prior guidance range of $115 million to $130 million.

HALO touched a new 52-week high of $16.35 on Thursday, before closing the day's trading at $15.98, up 21.24%.

Now, let's take a look at few other pharma stocks that grabbed headlines this week.